Saville Announces Adoption Of Equity Incentive Plan
VANCOUVER, B.C., December 1, 2022 – Saville Resources Inc. (TSXv: SRE, FSE: S0J) (the “Company”) is pleased to announce that at the Company’s Annual General and Special meeting held on November 30, 2022, the shareholders adopted an equity incentive plan (the “Plan”) which has a 10% rolling stock option component and a fixed Restricted Share Unit, Performance Share Unit and Deferred Share Unit components reserving an aggregate of 20,369,313 shares for issuance. Shareholder approval of the Plan must be obtained annually at the Company’s Annual General Meeting. In addition, the Plan must be submitted for Exchange review and acceptance on an annual basis.
About Saville Resources Inc.
The Company’s principal asset is the Niobium Claim Group Property (the “Property”), currently under Earn-In Agreement from Commerce Resources Corp. for up to a 75% interest. The Property consists of 26 contiguous mineral claims, encompassing an area of approximately 1,223 hectares, and is considered highly prospective for niobium and tantalum. The Property includes portions of the high-priority, and drill ready, Miranna Target where prior boulder sampling in the area has returned 5.9% Nb2O5 and 1,220 ppm Ta2O5, as well as the Northwest and Southeast areas where previous drilling has returned wide intercepts of mineralization, including 0.61% Nb2O5 over 12.0 m (EC08-008) and 0.82% Nb2O5 over 21.9 m (EC10-033), respectively.
On behalf of the Board of Directors
SAVILLE RESOURCES INC.
Mike Hodge, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.